USDA Reports Lower Export Sales in Latest Week

OMAHA (DTN) — USDA’s Weekly Export Sales and Shipments report released Thursday listed net sales of 39.1 million bushels (mb) of corn, 20.6 mb of soybeans, and 18.8 mb of wheat. Corn and wheat sales were for 2023-24 and 2024-25 delivery. Soybean sales are for 2023-24 delivery.

For the week ended Jan. 18, 2024, USDA reported an increase of 37.6 mb (954,800 mt) of corn export sales in 2023-24 and an increase of 1.5 mb (37,600 mt) for 2024-25. Last week’s export shipments of 36.7 mb were below the 45.4 mb needed each week to achieve USDA’s export estimate of 2.100 billion bushels (bb) in 2023-24. Corn sales commitments now total 1.279 bb in 2023-24 and are up 35% from a year ago. That is above USDA’s estimated pace at a time when USDA’s estimate of U.S. ending corn stocks is the highest in five years.   

For the week ended Jan. 18, USDA reported an increase of 20.6 mb (560,900 mt) of soybean export sales in 2023-24. Last week’s export shipments of 41.1 mb were well above the 23.9 mb needed each week to achieve USDA’s export estimate of 1.755 bb in 2023-24. Soybean sales commitments now total 1.394 bb in 2023-24 and are down 18% from a year ago. That is below USDA’s estimated pace at a time when USDA’s estimate of U.S. ending soybean stocks is the highest in four years.   

For the week ended Jan. 18, USDA reported an increase of 16.6 mb (451,400 mt) of wheat export sales for 2023-24 and an increase of 2.2 mb (59,000 mt) for 2024-25. Last week’s export shipments of 11.9 mb were below the 17.0 mb needed each week to achieve USDA’s export estimate of 725 mb in 2023-24. Wheat export commitments now total 608 mb in 2023-24 and are down 3% from a year ago. That is slightly above USDA’s estimated pace at a time when USDA’s estimate of U.S. ending wheat stocks is the second lowest in 10 years.